Vale's 400mln-tpy target for iron ore output pushed back by 2-3 years

Brazil’s Vale expects to return to its previous iron ore output target of 400 million tonnes per year only in the next few years, due to setbacks following a tailings dam disaster in Brumadinho city, in the country's southeastern Minas Gerais state.

"If you ask when Vale expects to produce around 400 million tonnes [per year] again, I would say between 2-3 years," the Brazilian miner’s chief financial officer Luciano Siani said at an earnings conference call last Friday May 10. The company had been working toward an iron ore production rate of around 400 million tpy. Late last year, it said it was expecting to maintain the rate at this level until 2023. But a deadly disaster at one of...

Published

Felipe Peroni

Renato Rostás

May 13, 2019

05:31 GMT

São Paulo